In a press release posted earlier today, it was announced that Microsoft is partnering with Nasdaq Inc. in the name of blockchain technology. Microsoft willing be integrating its Azure blockchain technology with Nasdaq’s financial framework (NFF) for the stock exchange to create a “ledger agnostic blockchain capability that supports a multi-ledger strategy.”
The product that’s going to be created aims to facilitate buyer and seller matching, delivery management, and payment and settlement of transactions. The goal behind the integration? To allow NFF customers to use various blockchains through the use of one common interface, in addition to the promotion of further blockchain development.
Both companies hope that the integration of the two technologies will aid the the advancement and adoption of blockchain use among companies and customers.
Senior Vice President of Enterprise Architecture at Nasdaq, Tom Fay, commented that…
“from our perspective, Azure is unlocking the power of the blockchain while removing major complexities. Our NFF integration with their blockchain services provides a layer of abstraction, making our offering ledger-agnostic, secure, highly scalable, and ultimately helps us continue to explore a much broader range of customer use cases for blockchain.”
Microsoft’s partnership with Nasdaq should have been predicted as they recently received a new blockchain patent, which makes reference to “an information computer system […] provided for securely releasing time-sensitive information to recipients via a blockchain.” It looks like Nasdaq is looking for a way to release timely information to the media while maintaining legal aspects and remaining secure.
In an interview with Cointelegraph back in September, Nasdaq’s Bill Dague said that they were exploring the possibility of adding a crypto assets marketing analytics tool. It is still unclear if Nasdaq will be launching any crypto related assets of their own.